Capital A denies plans for US$400m private placement

Capital A Bhd had refuted recent news articles claiming plans for a US$400 million private placement, clarifying no media interview occurred and stating no current intention for such placement.

However, the company is exploring fundraising options for its aviation business, with details pending board review.

“We wish to inform the shareholders that Capital A currently does not have any intention to undertake a private placement of new ordinary shares in Capital A of up to US$400 million. However, the management is in the midst of exploring a potential fund-raising exercise by its aviation business.

“The evaluation is still in its preliminary stage and the board of directors has not been presented with firm proposal to deliberate on.

Capital A shareholders are advised against speculative trading, and the company plans to request The Edge to retract the report for accuracy. –TMR